The announcement that Mazda Motor Corp. and Fiat SpA are pairing off to revive the light, simple old Alfa Romeo Spider (or a car very much like it) raises a number of questions. One of them is whether the Mazda MX-5 Miata, on the market since 1989, will lose its one-of-a-kind appeal. For years the Miata has been arguably the only “real” two-seat roadster on available in the U.S. other than the Porsche Boxster. While the Porsche is a joy to drive, it is too expensive for most buyers. It has always cost about twice as much as the Mazda but has never been twice as good.

About Japan Real Time

Japan Real Time is a newsy, concise guide to what works, what doesn’t and why in the one-time poster child for Asian development, as it struggles to keep pace with faster-growing neighbors while competing with Europe for Michelin-rated restaurants. Drawing on the expertise of The Wall Street Journal and Dow Jones Newswires, the site provides an inside track on business, politics and lifestyle in Japan as it comes to terms with being overtaken by China as the world’s second-biggest economy. You can contact the editors at japanrealtime@wsj.com